Bitcoin Price Plunge to $3,700 Expected, Say Traders

semobo

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Quote from: BlackPanda on March 01, 2019, 11:55:55 PM

Quote from: robelneo on February 22, 2019, 06:35:40 PM

Bitcoin price almost reached the $4000 level according to coinmarketcap $3,997.42 USD (1.19%) but we are not yet on a bull run and the price is expected to go down again but there is a blessing attached on it

https://www.ccn.com/bitcoin-price-fall-3700-good-for-crypto

What are your thoughts?

I remain optimistic that the price of Bitcoin can return to a positive track. Indeed, what will affect the price of Bitcoin is usually the owner of the majority of Bitcoin, investors, but if we all unite to implement bitcoin in more financial transactions, it can make the movement of Bitcoin employees much more positive.

Bitcoin holders have the intention of money making by holding it longer so they are not going to spend it until the prices goes too high again.We made the people to invest on bitcoin so it keeps the bitcoin not usable even after having value for it.

Harlot

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I do agree with the article. With the big drop we had from the last 2017 I do think this drop is significant as another rush in a price rally would only disrupt the stability of prices in the future. Drops like this can be considered as a healthy pullback from the price rally we have experienced and rallying towards 4,500$ to 5,000$ without any breaks would only affect the market confidence when a correction happen towards the end. With the upcoming bull run we are preparing I can say we are in a better position now.

talkbitcoin

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Quote from: mirakal on March 01, 2019, 09:13:50 PM

Quote from: Siti Nurbaya on March 01, 2019, 06:20:26 PM

Indeed, many options are elaborated and momentarily increased then come back down, we can only monitor every movement that occurs. Not able to make decisions and only maintain and maintain what we have. The rise and fall of bitcoin makes this trip look alive and still developing.

The rise and fall is very normal but the fall we are seeing is a healthy correction in the market.
When it falls there are people who are still buying because they know the trend will continue, some are making money for short term while
some are accumulating for long term hold.

these short term drops only have one reason in my opinion and that is lack of momentum while market being dominated by short term traderd (day traders) who wanted to cash out their short term profit and repeat the same thing all over again and take the same amount of profit out.

BlackPanda

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Quote from: robelneo on February 22, 2019, 06:35:40 PM

Bitcoin price almost reached the $4000 level according to coinmarketcap $3,997.42 USD (1.19%) but we are not yet on a bull run and the price is expected to go down again but there is a blessing attached on it

https://www.ccn.com/bitcoin-price-fall-3700-good-for-crypto

What are your thoughts?

I remain optimistic that the price of Bitcoin can return to a positive track. Indeed, what will affect the price of Bitcoin is usually the owner of the majority of Bitcoin, investors, but if we all unite to implement bitcoin in more financial transactions, it can make the movement of Bitcoin employees much more positive.

mirakal

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Quote from: Siti Nurbaya on March 01, 2019, 06:20:26 PM

Indeed, many options are elaborated and momentarily increased then come back down, we can only monitor every movement that occurs. Not able to make decisions and only maintain and maintain what we have. The rise and fall of bitcoin makes this trip look alive and still developing.

The rise and fall is very normal but the fall we are seeing is a healthy correction in the market.
When it falls there are people who are still buying because they know the trend will continue, some are making money for short term while
some are accumulating for long term hold.

Siti Nurbaya

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Indeed, many options are elaborated and momentarily increased then come back down, we can only monitor every movement that occurs. Not able to make decisions and only maintain and maintain what we have. The rise and fall of bitcoin makes this trip look alive and still developing.

AjithBtc

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Quote from: Slow death on March 01, 2019, 04:01:49 PM

Quote from: robelneo on February 22, 2019, 06:35:40 PM

the price is expected to go down again...

I looked at this post and this news and yes these guys of the news were able to get it right in their analysis, of course it was a great coincidence, but they managed to get it right when they said that the price would fall, did not fall much, but fell from $ 4000 to $ 3880. Next move will be: either the price rises and exceeds $ 4200 or the price fell back to the $ 3600. In the next few days we will see which of the options will be

This has been the prediction that has been taking place among the people who are into the cryptocurrency network. As in the quote falling days will give a detailed overview about the growth that's gonna happen with bitcoin as well other cryptocurrencies. Probably crossing of $4200 is much appreciated and the same is predicted to take the price reach $6000 at the earliest.

Slow death

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Quote from: robelneo on February 22, 2019, 06:35:40 PM

the price is expected to go down again...

I looked at this post and this news and yes these guys of the news were able to get it right in their analysis, of course it was a great coincidence, but they managed to get it right when they said that the price would fall, did not fall much, but fell from $ 4000 to $ 3880. Next move will be: either the price rises and exceeds $ 4200 or the price fell back to the $ 3600. In the next few days we will see which of the options will be

LUCKMCFLY

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These crashes are very normal, because the market in the accumulation phase always tests at different points of the phase, they need to test offer at new levels, and low because they need to take profits, however it is possible that they form liquidity zones where they have to lateralize a good time and prepare for an important movement.

judyrob

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Bitcoin has fallen in the article after several days of increasing and falling back to the level of $ 3800, today looks stable and calm.
I don't think it will fall back but it will rise slightly even though it looks slow.

The Sceptical Chymist

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Based on when that article was written on 2/22, bitcoin dropping to $3700 doesn't exactly qualify as a "plunge". Maybe if it fell to $2500 or something, that term would be valid but not when bitcoin was basically at that price less than a week previously. I think CCN is just using words thay have stronger meaning than what's justified, and that's pretty typical of any media outlet--and that's why I can't stand reading or watching the news, not even news about crypto.

And here we are a week later, and this weak-ass prediction that anyone could have guessed has come true. Big deal. What we're seeing is just normal market fluctuations, and they're not even really severe enough to warrant attention. Bitcoin has made much wilder swings in the past.

Eugenar

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Quote from: Thanasis on February 23, 2019, 01:01:47 PM

More to come the price of bitcoin is not over $4100 and it keeps increasing definitely some positive things happening since 2019 so better keep up the hope and expecting more price increase in the upcoming weeks.

There is nothing bad on keeping positive and expecting in the good price but we need face the reality that if we want see good price in the upcoming weeks we need to support it. Supporting the price of bitcoin in the market and increasing the demand will totally lift the market.

teilwalL05

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I might say there are some that are anticipating the drop of the price because some had analyzed the recent chart of the past and If you would look and rely on it, It is not really time for the bull run to happen, But there is a very strong safe bottom line for the value of bitcoin now I really think it can be at $3000 and $2500 USD but even if there is a safe line for it there can always be a drama that would let it slip down to $2000 USD more, But we can not say for sure because as the analysis of the past charts and forecast on some sites the big lap for bitcoin will starts at 2020.

pooya87

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Quote from: arpon11 on February 26, 2019, 12:20:58 PM

Quote from: STT on February 25, 2019, 06:03:25 PM

Its reset from above 4000 but I wasnt ready to call it negative just because of that so long as it can regain the 8 day average. So far its flopping on that achievement so far, maybe tommorow but Im not rating it bullish till it gets above the blue line here -

Its pretty neutral till it loses previous high about 3675 or so and thats roughly the 50 dma so good area for watching

It is truth and I agree that the current area is actually a strong area to watch! If the resistance around $3700 hold then we should expect bitcoin to resume it upwards trend but if it is broken then bitcoin may fall below $3000 this time around. It is advisable that we should watch carefully and analytically before investing because there is a bit uncertainty around the current market conditions.

from $3700 down to $3000 is a lot of different values that each have a very strong support line. starting with $3500 and then $3200 which is the actual strong bottom so falling below $3700 is meaningless and it won't have any further implications, let alone showing a fall "below $3k"!!!

as for the rise, it will happen but before that we will see $4100 tested a couple of times and fail before a sudden breakout happens where price shoots up to near $5k and possibly even higher.

arpon11

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Quote from: STT on February 25, 2019, 06:03:25 PM

Its reset from above 4000 but I wasnt ready to call it negative just because of that so long as it can regain the 8 day average. So far its flopping on that achievement so far, maybe tommorow but Im not rating it bullish till it gets above the blue line here -

Its pretty neutral till it loses previous high about 3675 or so and thats roughly the 50 dma so good area for watching

It is truth and I agree that the current area is actually a strong area to watch! If the resistance around $3700 hold then we should expect bitcoin to resume it upwards trend but if it is broken then bitcoin may fall below $3000 this time around. It is advisable that we should watch carefully and analytically before investing because there is a bit uncertainty around the current market conditions.

STT

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Its reset from above 4000 but I wasnt ready to call it negative just because of that so long as it can regain the 8 day average. So far its flopping on that achievement so far, maybe tommorow but Im not rating it bullish till it gets above the blue line here -

Its pretty neutral till it loses previous high about 3675 or so and thats roughly the 50 dma so good area for watching

Gaff

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Quote from: Oasisman on February 25, 2019, 12:34:38 PM

Quote from: bitcoinisbest on February 25, 2019, 09:31:12 AM

Quote from: Mugtaiya on February 24, 2019, 02:46:54 PM

Well said it would plunge back to $3700 as soon it hit over $4000 was a spot on event.
Happened all in a matter of 24 hours.

I think many big players would have sold and booked profits due to which market cane back to 3800 again from 4200$ . It may be just for short time and can bounce back again and this can bring again happiness on the face of people .

Thats how trading works, especially with this bear season. If you see a glimpse of light, grab it and dont miss the opportunity to acquire good profit, then make a good buy back entry point after.
Big players and veteran traders are the people who usually had an accurate speculations regarding the price movements, since they were the first to feel it even at the slightest price changes.

Indeed, those people who had more tight visions in trading will always be clever enough and will show strong actions towards trading. Even though they felt the slight price, that doesn't mean their losing up their grip on their holdings but rather keeping it safer. Once the time market became greener again, there's a better ways for the market of our coins to pump. Lets wait for the best price to come, and am happy with the consistency seen after sudden fall that it recover eventually.

Oasisman

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Quote from: bitcoinisbest on February 25, 2019, 09:31:12 AM

Quote from: Mugtaiya on February 24, 2019, 02:46:54 PM

Well said it would plunge back to $3700 as soon it hit over $4000 was a spot on event.
Happened all in a matter of 24 hours.

I think many big players would have sold and booked profits due to which market cane back to 3800 again from 4200$ . It may be just for short time and can bounce back again and this can bring again happiness on the face of people .

Thats how trading works, especially with this bear season. If you see a glimpse of light, grab it and dont miss the opportunity to acquire good profit, then make a good buy back entry point after.
Big players and veteran traders are the people who usually had an accurate speculations regarding the price movements, since they were the first to feel it even at the slightest price changes.

coinplus

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Well, it semi-happened. Traders were kind of right but honestly its just not a big huge guess, bitcoin was always going up and down, look at the past 2-3 months, bitcoin price hit over 4k multiple times and went down so why would that be a surprise that it hit over 4k again and dropped again, that is what traders want anyway.

If you have a coin that always go up, always go up than there is absolutely no point of "trading" it, you can just buy it and than keep it until you want to cash out and buy something or even pass it on to your kid.

If there is a coin that always go down than nobody would use it. This type of ups and downs is required by traders so at best they can sell when its at top and buy when its at the bottom (sometimes people fail to do that) and it happens all the time to feed the traders, it was highly expected.

bitcoinisbest

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Quote from: Mugtaiya on February 24, 2019, 02:46:54 PM

Well said it would plunge back to $3700 as soon it hit over $4000 was a spot on event.
Happened all in a matter of 24 hours.

I think many big players would have sold and booked profits due to which market cane back to 3800 again from 4200$ . It may be just for short time and can bounce back again and this can bring again happiness on the face of people .

Topic: Bitcoin Price Plunge to $3,700 Expected, Say Traders (Read 629 times)